MANA should have reached the high of the magenta wave (iv) on August 24. Since then, it has been working on wave (v) of the same color. This last stage should ultimately complete the green wave (2). With the corrective low in place, the price should then turn around and rise above the resistance at $0.48 with wave (1), which is also in magenta. Investors could use the entire range of the Zone to establish long positions, with stops placed about 1% below the lower edge. From a technical perspective, it would also be possible that the past low within the Zone has already ended the green wave alt.(2).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.